The paint and coating industry evolved a lot during 1700-1867. The initial known paint mill was located in Boston in 1700, marking its establishment in America. In the mid-late duration of 1800s, paint factories began rising up in the population. Furthermore, as soon as there was an impact of the world war, paint manufacturers started replacing lead pigments in the paints.
Now, in the 21st century coating and paints may go unnoticed by the consumer, but they play valuable roles in rendering high quality durable goods, food stuff, housing, furniture, etc. Let us first understand the basic difference between the paint and the coatings.
North America, especially The US, will still play an important role. Any changes from United States might affect the development trend of Decorative Paints and Coatings. The North American market in the forecasted period. The high adoption of advanced technology and the presence of large players in this region are likely to create ample growth opportunities for the market.
This report is a detailed and comprehensive analysis for global Insulation Paints and Coatings market. Both quantitative and qualitative analyses. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2023, are provided.
Paint vs coating
The main purpose of painting something is to improve. The result of applying paint on any kind of surface is to make it look nicer, vibrant, cleaner, and seem newer.
While coating is for fulfilling the purpose what paint cannot do. The coating is done to get the following results: –
- Anti-microbial resistance
- Flexibility and elasticity
- Water shedding
- Rust and corrosion containment and prevention
A paint cannot be a coating while a paint can be a coating. There are various types of paint and coatings. One can choose for the accurate type according to their requirement.
On account of increasing demand for consumer goods with expanding end-user industries, the paints and coatings market is expected to grow with a CAGR of 5.3% over the forecast period i.e. 2019-2027. Their growing demand can be attributed to rising per capita income of the increasing population across the globe. Rapid industrialization and commercialization accompanied with increasing number of various-end-user industries is estimated to impact the growth of the market positively during the forecast period. Increasing use of metals since the past decade and growing advancements to make metals corrosion-resistant as well as to provide UV resistance to some types of metals and materials will further boost the market shares across the globe. Growing OEM sector with rising number of developing economies will drive the market robustly over the forecast period.On the basis of regional platform, the global paints and coatings market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to hold the highest shares in the overall paints and coatings market on the back of presence of bigger market players across the region. Europe is attributed to induce a positive growth in the market on account of steady demand for paints and coatings in marine and defense sector.
Asia Pacific is anticipated to follow North America and display the highest growth on the back of widespread urbanization in the region along with massive infrastructure developments across the countries such as, India, China, Malaysia and others during the forecast period.
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